k. income received from business contractual agreements, such as non-compete contracts; and

l. business income from an interest in an estate or trust.

The “gross receipts” determined as earned from the sale of property transactions (as referenced in (c) above), shall be the gain from such transactions for both apportionment and exemption purposes.

Example: Bob Brown sold his commercial rental on January 31, 2010 for a gain of $30,000 after receiving $15,000 in gross rents for the year. The commercial rental was sold for $100,000. For purposes of the City of Portland Business License Law and the Multnomah County Business Income Tax Law, the gross receipts for both apportionment and exemption purposes shall be $45,000 not $115,000.